GME tsunami!
(media.greatawakening.win)
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Unfortunately, you’re mistaken about that. Computershare holds shares in either “PLAN” or “BOOK”. PLAN HOLDING shares get lent out, while BOOK are pure DRS that belong to you.
PLAN shares are the ones bought through Computershare. BOOK are shares transferred in from a brokerage.
You should change your holdings, on the Computershare website, so that they’re all in BOOK.
BOOK can only hold whole shares. For example, if you have 50.345 shares in PLAN, it will transfer 50 over to BOOK, and you’ll forfeit the fractional share (.345)
You also need to switch off the DirectStock purchase plan, if you’re enrolled in that. Here’s info on that…
https://www.drsgme.org/terminating-from-directstock
Thanks!! I have half in plan and half in book (transferred from Fidelity). I will ask CS to transfer to book.
Is it possible to purchase more shares directly to my book account on CS?
Also, when you say forfeit the fraction, where does it go?
No, when you buy on CS it goes into plan. When you transfer shares in from a brokerage it goes into book.
So say you have 100.5 shares in plan, and want to switch to book (which can only hold whole shares). CS will switch the 100 shares to book, and sell the .5 share. Unfortunately, CS has a fee for selling stock, which I believe is $25 per sale (set price, regardless of how small or large the sale is). Since selling .5 of a share is only about $11 at current price, that $11 would cover the sale fee, but you wouldn’t need to pay the difference, above $11. So essentially, you forfeit the fractional share.
Transferring shares from a brokerage to CS is a better way to go about it. Plus, with a brokerage you can time your buys when the price dips. Buying directly through CS only happens twice a week, so it could be a couple days between placing your buy order, and it being filled, and the price could change during that time, which is out of your control.